PROPERTY REGISTRATION
E-filing is nothing but the electronic or online filing of notices of intimation of mortgage of the property as stated in Section 89B of the Registration Act, 1908.
From April 1, 2013E-filing of notice of intimation in case of mortgage by way of deposit of title deed came into effect.
These modifications have been carried out to safeguard the interests of banks and society. Previous, the agreement/intimation relating to mortgage by the way of deposit of title deed was out of the public domain.
Due to this, there was scope for fake practices like availing loans from multiple banks on the same property or disposing of the property which is already mortgaged. Therefore, these modifications have been brought to prevent such frauds.
In case of mortgage by way of deposit of title deed done on April 1, 2013, and after:
- If an agreement is signed between the mortgagor and the mortgagee, it has to be compulsory registered. The usual time limit for registration is four months from the date of the sign.
- If such an agreement is not signed, then the mortgagor has to file a notice of intimation of such mortgage. This notice should be filed within 30 days from the date of the mortgage.
- When an agreement is signed and registered then filing of a notice of intimation is not required.
- The non-registration of agreement / non-filing of notice of intimation may defeat the legality of the mortgage and cause injury to the interests of parties involved. Any person who fails to file such notice within the prescribed time limit shall be liable for punishment under section 89C of the Act.
1. Once you create draft you have to Upload your required documents for Creating MOU Draft or You can email us documents for uploading.
2. After sucessfully uploading all required documents our team will make all preparation of your legal documentation as per requirement of government laws and rules.
3. Then We will send you all this legal documentation for confirmation.
4. Once the documents are confirmed Then make the payment of government stamp duty registration and all needed as per requirement.
5. Then our team fix the appointment with government official.
6. Our legal team will execute and represent your document with all parties and witnessess infront of government authority.
7. Legal team will give you the preapproved registered document to read and finalize before done registration.
8. Taking the photo and thumb impression of all parties, witnesses infront of authority.
9. Our legal team doing the process of stamping carefully.
10. Afterward Deliever you final legal document in 2-3 working days.
Required Documents
All the following documents Original & Photocopy to be signed and stamped by the Banks authority in Original
1) 0.2% of the Loan Amount eSBTR / Stamp Papers / Franked for Memorandum of Deposit of Title Deeds with Bankers Stamp and Sign – Photocopy
2) Photograph of all the borrowers
3) Accepted Sanction Letter (photocopy) with Borrwers& Credit Managers Sign
4) All Borrowers PAN Card – Photocopy
5) Latest Index – 2 – Photocopy
6) Notice Of Intimation regarding Mortgage by way of Deposit of Title Deed with
Rs. 100 Stamp Paper or Franking and 1000 Rs registration fee.300 Rs Handling charges as well.
7) Self Attested Identity proof of Banks Representative signing the “Notice of Intimation”
8) List of Documents Deposited – Photocopy
9) Franking details letter from the Bank – Original
Format Of Notice Of Intimation
Notice of Intimation regarding Mortgage by way of deposit of Title Deed
I/We, the undersigned parties, is are by this notice of intimation, giving notice to the public at large that, the mortgagor herein had deposited the title deeds of the property for the security of the loan given/agreed to be given by the mortgagee herein.
(1) Party Details-
(a) Mortgagor:
Address:
TAN (For Organizations)/ PAN( For Individuals) :
Phone/ Mobile No :
Email-Id:
(a) Mortgagee:
(b) Address:
(c) PAN:
(d) Phone/ Mobile No:
(e) Email-Id:
(2) Property Location( s) :
(a) Dist:
(b) Tal :
(c) Village :
(3) Property details (with Attribute No. Area Unit):
(4) List of Documents deposited with Banks:
(5) Loan Amount:
(6) Rate of Interest:
(7) Date of Mortgage:
(8) Date of Notice:
Name of Mortgagor | Party photo* | Thumb Impression* | Signature* |
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* (In case of Company/Institute etc. the photo, T.I. and signature of the authorized signatory with name)
The information is verified and found correct
(sign. and seal of the authorized person of Mortgagee)
Payment Details Stamp Duty of Rs.…………………has been paid vide ……………Date : If Stamp Duty is paid on another instrument, details of the instrument and Stamp Duty : |
Filing Charge of Rs 1000…………has been paid vide …………Date : Document handling Charge of Rs 300……… has been paid vide ………Date : |
(For Office use only)
Name of sub Registrar | Office Submission No | Date of submission |
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Filed On serial Number…………….on………………day of ………………..20….
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Signature and seal of Sub-Registrar
FAQ
The notice should be filed within 30 days from the date of the mortgage.
- For the convenience, of citizens department has introduced online e-filing system which is presently available to Banks/Non-Banking Financial Institutes; Citizens can file the notice online from the banks. The details regarding the process are available on department’s website www.igrmaharshtra.gov.in
- Apart from the e-filing, as a temporary arrangement, citizens can file the notice physically. The format of notice is enclosed herewith.
The designated offices can accept the notice for filing on any working day in the working hours.
In the case of e-filing: the Stamp Duty and Filing Charges have to pay online through the GRAS (www.gras.mahakosh.gov.in)
In case of physical filing: the Stamp Duty and filing charges can be paid through any permissible mode including the GRAS (www.gras.mahakosh.gov.in). If the filing fee has to be paid through DD, then it should be in favour of the respective Sub Registrar office and payable in the respective City. The document handling charges have to be paid in cash.
a) Get the notice prepared in the prescribed format.
- b) Pay the proper Stamp Duty
- c) Affix the photographs and put the signature/s thumb impression/s of the mortgagor/s
- d) Get it verified from the bank (the proper officer of the bank has to put the signature with his seal)
- e) The mortgagor has to submit it to the Sub Registrar along with a photocopy of the notice.
- f) If Stamp Duty as per Article 6 is paid on another document and Rs 100/- is paid on the notice, then the attested true copy of another document has to be submitted along with the notice.
- g) Sub Registrar after verification of Stamp Duty, shall pass receipt of the filing fee and document handling charges, and shall give an acknowledgement on the photocopy of the notice.
- h) Following documents are not required:-
1) Covering letter from the bank,
2) Receipt of the Stamp Duty paid on the notice,
(if it is of Rs.100/ or franking is done by the concerned bank )
3) Copy/s of the title deeds deposited with the banks
No. As it is a legal provision and not an administrative order; the time limit can not be extended.
The notice has to be filed to the Sub Registrar office, within whose jurisdiction the property (of which the title deeds are deposited) is situated.
The Stamp Duty is chargeable as per Article 6 of the Maharashtra Stamp Act 1958,.i,e. @ 0.1% if the loan amount is Rs 500000/- or below, and @ 0.2% if the loan amount is Rs above Rs.500000/-. If the stamp duty as above is paid on any other document like Memorandum or agreement for same loan transaction then Stamp Duty of Rs 100/- has to be paid on the notice.
The filing fee is Rs 1000/- irrespective of the Loan amount. In case of physical filing only (and not in the case of online filing), the document handling charges of Rs 300/- has to be paid.
1) If all the properties are situated within the same Registration Jurisdiction, then a single notice containing information of all properties and their title deeds is sufficient.
2) If the properties are situated within the different Registration Jurisdiction, then the separate notices have to be filed to the every Sub Registrar of whose jurisdiction the property (of which the title deeds are deposited) is situated. For such notices, the filing fees and document handling charges have to be paid separately.